Waste Management (WM) Price Target Cut to $90.00

Waste Management (NYSE:WM) had its price target lowered by research analysts at BMO Capital Markets from $97.00 to $90.00 in a report released on Friday. The brokerage currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.93% from the stock’s current price.

WM has been the topic of a number of other reports. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. UBS initiated coverage on Waste Management in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price objective on the stock. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Waste Management in a research note on Thursday, January 4th. Finally, Raymond James raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Waste Management currently has a consensus rating of “Buy” and an average price target of $90.89.

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Shares of NYSE:WM traded up $0.91 during midday trading on Friday, hitting $83.39. 482,507 shares of the stock were exchanged, compared to its average volume of 2,367,416. The stock has a market cap of $35,769.43, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.87 and a beta of 0.70. The company has a current ratio of 0.74, a quick ratio of 0.77 and a debt-to-equity ratio of 1.47. Waste Management has a 12 month low of $70.08 and a 12 month high of $89.73.

Waste Management (NYSE:WM) last released its quarterly earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.09. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a return on equity of 26.73% and a net margin of 14.06%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. equities analysts forecast that Waste Management will post 4.04 EPS for the current year.

In other Waste Management news, VP John J. Morris sold 18,254 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $84.83, for a total value of $1,548,486.82. Following the transaction, the vice president now directly owns 56,338 shares of the company’s stock, valued at $4,779,152.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nikolaj H. Sjoqvist sold 307 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $84.76, for a total value of $26,021.32. Following the completion of the transaction, the senior vice president now directly owns 18,756 shares in the company, valued at $1,589,758.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,211 shares of company stock worth $9,146,683. 0.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of WM. APG Asset Management N.V. lifted its stake in Waste Management by 74.7% in the fourth quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock valued at $303,469,000 after buying an additional 1,805,408 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in Waste Management by 37.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,856,726 shares of the business services provider’s stock valued at $246,536,000 after buying an additional 778,626 shares during the period. Renaissance Technologies LLC raised its position in shares of Waste Management by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,808,600 shares of the business services provider’s stock worth $328,682,000 after purchasing an additional 511,700 shares during the period. Geode Capital Management LLC raised its position in shares of Waste Management by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 4,374,435 shares of the business services provider’s stock worth $376,732,000 after purchasing an additional 428,690 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Waste Management by 55.5% during the fourth quarter. American Century Companies Inc. now owns 826,565 shares of the business services provider’s stock worth $71,333,000 after purchasing an additional 295,160 shares during the period. 76.56% of the stock is currently owned by hedge funds and other institutional investors.

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Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

Analyst Recommendations for Waste Management (NYSE:WM)

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